HDFC Bank was down for a sizeable amount of time. Post RBI allowing HDFC to restart CC offerings to customers , there is a good movement in HDFC Bank.
Recently it has broken the resistance level highlighted in orange and then profit booking was obvious......current levels are crucial for a swing trade with good risk to reward ....i believe in case HDFC Bank turns upward from here , it could be a good opportunity to go long for a decent swing trade as FIIs are net buyers in the market after a very long time and HDFC bank is their most liked counter..
Recently it has broken the resistance level highlighted in orange and then profit booking was obvious......current levels are crucial for a swing trade with good risk to reward ....i believe in case HDFC Bank turns upward from here , it could be a good opportunity to go long for a decent swing trade as FIIs are net buyers in the market after a very long time and HDFC bank is their most liked counter..